Plaza Centers N.V. Directorate Change (2223N)
January 28 2016 - 3:00AM
UK Regulatory
TIDMPLAZ
RNS Number : 2223N
Plaza Centers N.V.
28 January 2016
28 January 2016
PLAZA CENTERS N.V.
APPOINTMENTS OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL
OFFICER
The Board of Plaza Centers N.V. (LSE: PLAZ) ("Plaza" / the
"Company" / the "Group"), a leading emerging markets property
developer, has appointed Dori Keren and Yitshak (Izzie) Elias to
the roles of Acting Chief Executive Officer and Chief Financial
Officer, respectively. Both roles will become effective on 1 April
2016 while Dori Keren will become Chief Executive Officer on 1
January 2017.
Dori (45) joined Plaza in 2006 as CFO for Poland and Latvia and
was additionally promoted to Managing Director for the region in
2013. Since joining Plaza, Dori has been responsible for overseeing
all of the Company's operational and financial activities in Poland
and Latvia from his base in Warsaw, Poland, supporting the
development and management of over EUR400m of real estate focused
on the retail sector, and managing staff across the two countries
and five separate sites (Poland is Plaza's largest market by
value). He has a strong financial background and, prior to joining
Plaza, Dori was a Financial Controller for CAL-Cargo Air Lines Ltd,
a Worldwide Air Cargo shipment company. Dori holds a B.A. degree in
Economics and Political Sciences from Tel-Aviv University and an
MBA degree from Ben-Gurion University.
In the second appointment, the Board announces the promotion of
Yitshak Elias to the role of Chief Financial Officer, replacing Roy
Linden who, after nearly 10 years with Plaza, has decided to step
down to pursue other business interests. Roy shall remain as senior
advisor to the Company during 2016.
Yitshak (39) is currently CEO of Elbit Imaging's and Plaza's
activities in India, a position he has held since 2013. In this
role he has been responsible for the management of all of the
Company's activities in the region, including defining and
implementing its business strategy, running Koregaon Park Plaza and
managing Plaza's disposal programme in the region (including the
successful disposal of the Kharadi and Koregaon Park Plaza with
total net proceeds to the Company of c. EUR25m). He originally
joined Plaza in 2009 as Financial Controller of its Indian
activities before becoming its Chief Financial Officer. He holds a
B.A. degree in Business Administration and Accounting from the
College of Management, an MBA in Financial Management from Tel-Aviv
University and he is a certified public accountant.
There is no further information that is required to be disclosed
under paragraph 9.6.13(1) to 9.6.13(6) of the Listing Rules in
relation to this appointment.
Ron Hadassi, Chairman of Plaza, commented:
"Having looked at all possible options - internal and external -
the Board unanimously concluded that both Dori and Yitshak combine
the experience of Plaza with the necessary expertise to become
natural successors to the respective roles of CEO and CFO. Having
successfully led activities in Poland, Plaza's largest country by
value, Dori is well placed to lead the Company into the future
while providing an important degree of stability and continuation.
Meanwhile, Yitshak has held a number of senior financial roles in
the past and the Board is convinced he will be an appropriate
successor to Roy Linden who we would like to thank for his
dedication and significant contribution to Plaza over the past
decade and wish him all the best in the future."
For further details please contact:
Plaza +36 1 462 7221
Roy Linden +36 1 462 7222
FTI Consulting
Dido Laurimore / Claire Turvey / Tom
Gough +44 20 3727 1000
Plaza Centers N.V. (www.plazacenters.com) is a leading emerging
markets developer of shopping and entertainment centres with
operations in Central and Eastern Europe and India. It focuses on
constructing new centres and, where there is significant
redevelopment potential, redeveloping existing centres in both
capital cities and important regional centres. The Company is
listed on the Main Board of the London Stock Exchange, the Warsaw
Stock Exchange and, as of 27 November 2014, the Tel Aviv Stock
Exchange (LSE:"PLAZ"; WSE: "PLZ/PLAZACNTR"; TASE: "PLAZ"). Plaza
Centers N.V. is an indirect subsidiary of Elbit Imaging Ltd.
("EI"), an Israeli public company whose shares are traded on both
the Tel Aviv Stock Exchange in Israel and the NASDAQ Global Market
in the United States. It has been active in real estate development
in emerging markets for over 20 years.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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